00                      CS FOR SENATE BILL NO. 11(JUD)                                                                    
01 "An Act relating to community property and to community property trusts; and                                            
02 providing for an effective date."                                                                                       
03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
04    * Section 1. AS 34.77.030(h) is repealed and reenacted to read:                                                    
05            (h)  Except as otherwise expressly provided in the community property trust,                                 
06       appreciation and income of property transferred to a community property trust are                                 
07       community property.                                                                                               
08    * Sec. 2. The uncodified law of the State of Alaska is amended by adding a new section to                          
09 read:                                                                                                                   
10       APPLICABILITY. AS 34.77.030(h), as repealed and reenacted by sec. 1 of this Act,                                  
11 applies to a community property trust that exists on or after May 23, 1998. In this section,                            
12 "community property trust" has the meaning given in AS 34.77.900.                                                       
13    * Sec. 3. The uncodified law of the State of Alaska is amended by adding a new section to                          
14 read:                                                                                                                   

01       SAVING CLAUSE. Notwithstanding sec. 2 of this Act, this Act does not affect a                                     
02 court action or court proceeding begun before the effective date of sec. 1 of this Act.                                 
03    * Sec. 4. The uncodified law of the State of Alaska is amended by adding a new section to                          
04 read:                                                                                                                   
05       RETROACTIVITY. Section 1 of this Act is retroactive to May 23, 1998.                                              
06    * Sec. 5. Sections 1 and 4 of this Act take effect immediately under AS 01.10.070(c).